All Forum Posts by: Alana Bates

Hi there! I searched high and low, and while there are plenty of Property Management tools out there I've come to find TenantCloud is a pretty good option. I haven't collected rent yet but I do like the features, user interface (for both tenants and landlords) and its affordability. I also like that it has an app option as well so you can view your dashboard in a web browser or in an app. You can search Kenton Knows' "Why I Chose TenantCloud" video clip on YouTube for more info. Hope this helps! -Alana

I just closed on my first duplex in Washington DC, yay! I changed all of the locks, but still feel like I could use an added layer of protection. The units are stacked and share an atrium, or main entryway. What security systems do you have in place to make sure no unwanted guests barge in through the front door? Moreover, the backyard could use some protection as well. I'm not a fan of wifi so I feel my choices may be limited. Any suggestions?

Warmly,

Alana

@Adam Belasco Welcome! I live in the DMV area as well (Woodbridge, VA). Like you, I am also a veteran and a newbie to the REI world. I'm still searching for my first multifamily property. I've never bought a home in my life so the learning curve is steep to say the least! So good to hear you've got a plan...from what I hear BRRRR is totally doable in DC. Either way, I look forward to seeing your progress and success stories!

@Victoria Torres I applied with Caliber and have had an awesome experience so far! I live in the DMV area and my loan officer is quick to respond and attentive. Good luck!

@Cody Neumann thanks! That's what I thought but couldn't be sure since this is my first property I've ever purchased. I don't have a huge budget for rehab (~$10K) so I would prefer a turnkey property.

Have you ever been encouraged to have a pre-inspection as part of your offer on a multifamily property? I was urged to do so since the competition is fierce and having the pre-inspection would make my offer stand out amongst the rest. However, pre-inspections are not cheap and I couldn't image doing one for each and every offer.

Anyone have thoughts on this?

@Andrew Schutsky I don't hear much about the property management side of rental investments. Analyzing and getting the deal are all well and good, but what about after the dust settles and you have tenants? How do investors set up systems to manage their property(ies) efficiently? When do we bring in a legal team to help with tenant complaints? How do we prevent disastors from happening? And how should we respond when they do? This type of info would be very helpful for individuals like myself who want to manage property(ies) on their own vs. hiring a property management company.

@Theresa Harris thank you for the tip! This seems like I'd get the best of both worlds.

@Patricia Steiner thanks! Great insight! I'd hate for things to get to the point of eviction but it's part of being a landlord. I'll make sure the lease is clear on that note about non-payment of utilities, should I decide to make the tenant responsible for their individual water bill.

@Marian Huish yes, very good point! In your opinion, what would recommend a flat water/sewage amount be included in the rent or a fluctuating amount based on usage?